msummer2007
129 posts
msg #54086
- Ignore msummer2007 |
8/15/2007 2:02:01 PM
Even a loser wins once in awhile. These markets are heading lower Niko in my opinion. Sure you might see a rally for a few days, but down she will go shortly. There is no conviction, and there won't be until the Fed comes clean with what is really going on.
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nikoschopen
2,824 posts
msg #54087
- Ignore nikoschopen |
8/15/2007 2:45:41 PM
Well, I just came back from lunch only to find out all of my earlier profit had been wiped out. Some crazy market!
No, I'm not calling for a reversal at this time. The market has been in a tailspin for some time and that it's high time to chill for a while before taking another nosedive. Nevertheless, this market is by no means predictable as one ought to think.
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msummer2007
129 posts
msg #54090
- Ignore msummer2007 |
8/15/2007 3:27:31 PM
Run Run Run the sky is falling, the sky is falling!!!
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nikoschopen
2,824 posts
msg #54096
- Ignore nikoschopen |
8/15/2007 5:34:15 PM
And this is supposed to be August, the sleeper month! Yikes!
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petrolpeter
439 posts
msg #54115
- Ignore petrolpeter |
8/16/2007 1:51:21 PM
Rally just didn't feel right yesterday.Too many holders,Hedge funds,Funds,Privates,Foreign funds,and lastly the poor retail investor.Selling over-powering short covering.Fast money guys calling for a big rally and money media talking "buying Oportunity",watch out!
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karennma
8,057 posts
msg #54117
- Ignore karennma |
8/16/2007 2:01:57 PM
CNBC just announced some of Charles Schwab's servers are down.
This reminds me of 1989!!
I remember when everyone was trying to get OUT of the market and their lines were so busy, investors couldn't get out!
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karennma
8,057 posts
msg #54118
- Ignore karennma |
8/16/2007 2:09:04 PM
sorry, that was 1987!
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nikoschopen
2,824 posts
msg #54127
- Ignore nikoschopen |
8/17/2007 2:22:13 AM
Rally just didn't feel right yesterday.Too many holders,Hedge funds,Funds,Privates,Foreign funds,and lastly the poor retail investor.Selling over-powering short covering.Fast money guys calling for a big rally and money media talking "buying Oportunity",watch out!
I've been in this market fairly long enough to know when things smell fishy. When the market is pummeled in the first half of the session only to pull its ass straight back up to finish the day flat in the second half, especially when it's technically in a very sad shape, there's something terribly wrong and it raises a fear factor in me. The most likely scenario for today's action is that the S&P 500 hit the March low (a major support) and you have these delusional optimists in their blind rage spraying bullets towards the marauding bears and thus taking the market higher. But these are no small time retail bandits but major institutional biggies that are whipping out program trades after program trades. But I'm thinking there must be something else they're banking on like, uhm, earlier than expected bailout from the Fed. At this juncture, I wouldn't be at all surprised if the Fed makes an "unannounced" (yeah, right) rate cut next week. I say this because I got badly burned when the Greenspan & Co. showed up at my doorstep back in early 2001 and told me in no uncertain terms that I was toast because they've just dropped the interest rate. Needless to say, I lost a lot of money on that fateful day. Be that as it may, their intervention turned out to be just another comic relief because the market dropped like a brick anyway.
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petrolpeter
439 posts
msg #54129
- Ignore petrolpeter |
8/17/2007 4:14:01 AM
Oh,An additional mention is those double short charts(QID) just looked so damn good,like breaking out kinda good.HANS short@49 sails back through the gap,only in this market I guess.They asked Buffet today what he thought of the derivative/loan meltdowns,in a very casual way he said people by these instruments with out knowing where they are headed.Warren seemed to say these are a mistake to own and a waste of time to even look at and showed no pity whatsoever to those folks.Does Bernanke have the same opinion?If so he'll let the dumb paper burn without pity too as it is doing so right now.
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karennma
8,057 posts
msg #54143
- Ignore karennma |
8/17/2007 11:46:48 AM
look at a SPY chart.
does that look "normal" to you?
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